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WKN Volantis
WKN Volantis, Valruzian Petrochemical Concern Volantis (Valruzian: WKN Volantis - Walruzyjski Koncern Naftowy Volantis) is the sole Valruzian oil refiner and petrol retailer. It was established as an independent government-owned company in March 4249 and quickly became the largest oil company in Valruzia. Volantis came into existence as the result of nationalization and fusion of numerous small and medium-sized oil refiners in Valruzia. It exploits all medium-sized and major oil deposits in the country. Volantis is the official partner and sponsor of Valruzian football, and volleyball teams as well as other Valruzian representations in other sports. It currently is the largest oil extractor when measured by daily extraction of oil barrels of nearly 15 million barrels daily. WKN Volantis is responsible for extraction of around 13% of oil in Terra. Functioning The WKN Volantis operates independently from the national government, however, it is subordinate to the Ministry of Trade and Industry which nominates the CEO of the Volantis. Its independent status makes it self-sustainable in both logistic and financial way. It pays 19% of its revenue to the National Budget and spends the rest on investments, research and development of new technologies and refining facilities. The company runs the most advanced, modern and the largest complex of refineries in Terra. Currently, it operates 6 refineries and 294 extraction sites in different locations throughout Valruzia. Volantis operates also 76,000 gas stations across Valruzia. Management The Council of Ministers nominates and appoints the CEO of WKN Volantis. The CEO operates parallelly with the board of directors. The board of directors consists of people who had successfully passed the ministerial exam for members of the board of directors. Members of the board elect the Chairman which term last one year. Facilities WKN Volantis operates drilling and refining facilities across Valruzia and has access to all Valruzian oil reservoirs with proven reserves of ca. 1148 billion barrels. Volantis extracts 14,900,000 million barrels of crude oil daily. Extraction and processing Extraction and processing of petroleum account for the majority of Volantis' revenue, annually it produces about 70% of the total revenue. In the Republic of Valruzia, WKN Volantis' petroleum extraction and refining process are mainly concentrated in Ruzian Voivodeship where the largest known basin of crude oil in Valruzia is located. Valruzia shares it with Baltusia and Tukarali but research has proven that up to 90% of the basin is on the Valruzian side. Other significant basins are Pasym and Wydymy located in Chynberg Voivodeship. In addition, WKN Volantis has several gas development mainly in the Chynberg Voivodeship. The natural gas reservoirs are handled by a subsidiary of WKN Volantis - Gasvolt. Offshore Activity Currently, WKN Volantis runs offshore extraction platforms only on the exclusive economic zone of Valruzia. Volantis operates a total of 16 maritime extraction platforms in the south-west region of the zone where under-seabed reservoirs have been found. Marketing and Distribution WKN Volantis markets products around the world under various brands but the majority of it is marketed under its name WKN Volantis abbreviated to Volantis. Volantis' processed petroleum is primary retail gasoline in Valruzia and accounts for 95% of the domestic market. Volantis is also the first gasoline retailer to introduce hydrogen gas stations in the country and the second, after dorvish Avanza to establish a network of chargers for electric cars around the country. Corporate Affairs Finances Currently, WKN Volantis is the Valruzia's largest publically held corporation when measured by revenue and one of the Terra's largest. With 499 billion pesos of revenue, it surpasses the second largest company in Valruzia, the Walatom by 258 billion pesos. Category:Valruzia Category:National oil and gas companies Category:Companies of Valruzia